A Tech Sell-Off Drags Stocks Lower as Markets in South Korea and Japan Sink
Hotter U.S. inflation data lifted Fed rate-hike bets and sent semiconductor and AI-linked shares sharply lower across Asia, with the KOSPI down 5.6%, officials said.
- Asian markets opened lower on Thursday as hotter-than-expected US consumer price inflation increased expectations for Federal Reserve interest rate hikes, pressuring regional stocks.
- The US consumer price index rose 3.7% year-on-year in September, exceeding forecasts and sparking Wednesday's Wall Street decline that rippled through global markets.
- Technology shares led the selloff, with South Korea's KOSPI plunging 5.6% and major chipmakers SK Hynix and Kioxia Holdings dropping 11.4% and 11.2% respectively.
- Investor attention now shifts to speeches from Federal Reserve officials in Bangkok, including Chair Kevin Warsh, for clues on the central bank's next policy move.
- Fed funds futures now price a 31.6% probability of a 25-basis-point hike at the October 28 meeting, while the 10-year Treasury bond yield fell 4.4 basis points.
91 Articles
91 Articles
The Daily Advance
A tech sell-off drags Asian stocks lower as markets in South Korea and Japan sink
Asian shares are falling sharply with markets in South Korea and Japan sinking as a sell-off of technology shares deepens. The declines in Asian shares follows losses on Wall Street after hotter-than-expected inflation data in the U.S. South Korea's benchmark…
The Asian stock exchanges fell sharply this Thursday, with markets in South Korea and Japan sinking, as the widespread sale of technology roles intensified after American shares retreated to above-expected inflation data. The futures of US shares operated without defined direction. Exclusive material for subscribers. To have full access, access the link of the subject and register.
South Korea's KOSPI triggers circuit breaker in tech-led selloff
The Asian Stock Exchanges close in strong decline, in wake with Wall Street and after the figure on American inflation, higher than expected, which feeds fears of a new rise in rates, triggering sales on semiconductor securities, already under pressure from the... (ANSA)
Coverage Details
Bias Distribution
- 43% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
